Magnum Ice Cream falls after FY results

Magnum Ice Cream NV

12/02/2026 08:49

** Shares in Magnum Ice Cream MICCT.AS fall 14.1% after co reports FY like-for-like margin miss

** J.P. Morgan flags FY25 LFL and margin miss, 2026 guidance implies consensus EBITDA margin cut

** Broker says that MICCT reported 4.3% LFL growth in FY25, a miss versus JPMe +5.0% and consensus +4.7% for the year

** Adds this was with a volumes miss at +1.5% across regions

** JPM adds that adj. EBITDA margin also missed JPMe/consensus at 15.9%

** "We expect consensus 2026E adj. EBITDA margins therefore have to be cut from 16.8% towards c16.0% and implying M-HSD cut to EPS 26E" - JPM

** "Headlines do not read well. Vols/mix down 3% YoY due to weak demand in category" - Jefferies

** Up to previous session's close, shares were up 20.4%​ YTD

($1 = 0.8425 euros)

 (Reporting by Marianna Ciabach-Malinowska)

 ((Marianna.ciabach@tr.com))